Well I gotta love Passive Income.
Our Active Income from the rental properties is down because we now have a vacant rental. Our credit card balance is up because currently we are spending more than we earn, but our retirement account has increased by over $22k. So altogether our Net Worth has increased by $19k from September to October.
The Credit Card balance is bugging me.
When we first moved back home we had enough going on to put that on the back burner. But now that we are settled in, it is the last remaining dark cloud left over from the California move. I want it gone so I don't have the reminder of our bad CA move.
We have someone who owes us money that we are Constantly. Chasing. Down. He was supposed to mail us a payment yesterday, but since we have not heard from him, I plan to call him today and that means we'll get the next payment in about 2 weeks after 2 or 3 additional phone calls/text messages. His payment could almost knock the CC down by a third.
To my husband I brought up the subject of how I thought this guys payments would have eliminated our credit card balance by now and every month that we receive a partial payment we are being charged so much interest that our original payment plan with the guy is now costing us money. Husband responded with "I know, we must have paid like, $600 in interest charges by now." I then told him "we have paid $1400 in interest charges on just your card alone this year." (Thank you gut wrenching credit card statement that clearly outlines your interest paid for the year.) Husband actually gasped and then started angerly rambling about how our ex business partner screwed us. To make him (us) feel better I piped in about how ex business partner will never succeed and we are so much better off without him. It did make us temporarily feel better.
We are also waiting on a BIG check from husbands former employer who owes him a Workman's Comp settlement. We settled almost 3 months ago, and the bureaucracy to get the money is taking FOREVER. I def thought we would have the money by now. I'm not being impatient, husband filed for Workman's Comp over 2 YEARS ago. But as of 2 weeks ago the check was at our lawyers getting cleared and then they would send us a check for our cut. When that comes- it will eliminate the CC debt altogether. We plan to use a little of the remaining money to get the roof fixed and save the rest for a down payment on a future rental property purchase.
But the CC minimum payments are coming due in 9 days- so there wont be enough time to get any money owed to pay these suckers off before the next payment due. I need to plan to spend another month juggling money to get a minimum payment in.
So I'm kind of rambling here. Just organizing my thoughts. Trying to stop myself from staring at these credit card bills and freaking out over the balances.
I feel better now. I hope you have a better day too.
October Net Worth Increase
October 9th, 2013 at 10:59 am
October 9th, 2013 at 02:07 pm 1381327646
October 9th, 2013 at 03:16 pm 1381331776
October 9th, 2013 at 10:53 pm 1381359182
October 9th, 2013 at 11:05 pm 1381359912